Wise review

Wise is the clearest deal for most people sending to a bank account abroad. It converts at the live mid-market rate, the one you can check on Google, and charges a separate fee that starts at 0.23% on its US pricing page and falls as you send more. Once your month's transfers reach 25,000 USD, discounts apply for the rest of the month. Wise says 77% of transfers arrive in under 20 seconds and 95% in less than a day, though speed depends on how you pay: money already in your Wise balance is cheapest and fastest, while an ACH pull from your US bank can take up to 4 working days to reach Wise. For some currencies you can lock the rate when you set up the transfer. The account also holds balances, gives you details to receive money in 22 currencies and offers a card for 9 USD. Cash pickup is not its focus, so families whose recipients need cash should look at Remitly or Western Union.

Who it is for

People who send to bank accounts and want the exchange rate with no markup, from small amounts to large ones.

Price

Free to register; sending fee varies by currency, from 0.23%, at the mid-market rate.

Register for a Wise account Free Sending money Sending money Fee varies by currency From 0.23%
Quoted from the vendor pricing page on November 10, 2026.

Key features

• Conversions at the live mid-market rate with a separate upfront fee
• Volume discounts once you send 25,000 USD in a month, resetting on the first
• Rate lock on some currencies if Wise receives your money within the stated timeframe
• Free same-currency transfers between Wise contacts
• Account details to receive money in 22 currencies

Strengths and weaknesses

• Strength: Wise says 77% of transfers arrive in under 20 seconds and 95% in less than a day
• Strength: No markup on the exchange rate, so the fee is the whole cost
• Strength: Fees get cheaper the more you send
• Weakness: Paying by ACH can take up to 4 working days for money to reach Wise
• Weakness: Built around bank accounts rather than cash pickup
• Weakness: Sending limits vary by currency and payment method

Key facts

• Exchange rate: Mid-market, no markup
• Sending fee: From 0.23%, varies by currency
• Speed: 77% under 20 seconds, 95% in less than a day
• Customers: 18.9 million people sending abroad
• Receive currencies: Account details in 22 currencies

Where it ranks

Wise is No. 1 in our Best Money Transfer Services verdict and No. 7 in Best Payment Apps.